Property Tax Hikes Coming To Santa Clara County Homeowners

SAN JOSE (KCBS) – 128,000 homeowners in the South Bay will soon see increases on future property tax bills.

“Almost all properties are increasing in value,” pointed out Santa Clara County Assessor Larry Stone.

“This is not bad news, it’s good news because for every $1 that they pay in additional property taxes because of the increase, they’re gaining $99 in restored equity that they lost during the recession,” he pointed out.

Property Tax Hikes Coming for Many in Santa Clara County

Homeowners will first receive a notice, alerting them that the higher property tax bills will be coming.

The higher bills will only be sent to homeowners who applied to have their taxes reduced during the recession. If they didn’t request a reassessment during the downturn in the economy, under state law, the increase can be no more than 2% annually.

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Jeffrey Schaub

Jeffrey Schaub is a Bay Area broadcast news veteran. From 1990 to 2010 Jeffrey served as a reporter and anchor at CBS5 KPIX-TV in San Francisco. Prior to that he was a radio news reporter in San Rafael, California and in Colorado. Jeffrey has cov...